Socioemotional wealth and financial decisions in private family SMEs

Baixauli Soler, Juan Samuel; Belda Ruiz, María; Sánchez Marín, Gregorio

Publication:
Socioemotional wealth and financial decisions in private family SMEs

dc.contributor.author	Baixauli Soler, Juan Samuel
dc.contributor.author	Belda Ruiz, María
dc.contributor.author	Sánchez Marín, Gregorio
dc.contributor.department	Organización de Empresas y Finanzas
dc.contributor.other	Facultades, Departamentos, Servicios y Escuelas::Departamentos de la UMU::Organización de Empresas y Finanzas	es
dc.date.accessioned	2025-01-13T12:43:24Z
dc.date.available	2025-01-13T12:43:24Z
dc.date.issued	2021-02
dc.description	© 2020 Elsevier Inc. This document is the Published Manuscript version of a Published Work that appeared in final form in Journal of Business Research. To access the final edited and published work see https://doi.org/10.1016/j.jbusres.2020.10.022
dc.description.abstract	This study focuses on heterogeneity in family firms by analyzing whether the non-economic aspects that meet the family’s affective needs, or socioemotional wealth (SEW), influence debt financing. In the context of private family small and medium-sized enterprises (SMEs), our results indicate that family firms which are more concerned about preserving their SEW have lower debt levels (total and financial debt) and that CEO gender plays an important moderating role, with female CEOs strengthening the negative effect of SEW preservation on debt financing. Moreover, when family firms are managed by the first generation, the SEW effect on financial debt is even more negative. The findings are consistent with SEW being the point of reference in family SMEs’ financial decisions, and highlight the importance of the CEO and family generation in charge of the firm as moderators of the relationship between SEW preservation and debt financing.	es
dc.format	application/pdf	es
dc.format.extent	12	es
dc.identifier.citation	Journal of Business Research, 2021, Vol. 123, pp. 657-668
dc.identifier.doi	https://doi.org/10.1016/j.jbusres.2020.10.022
dc.identifier.issn	Print: 0148-2963
dc.identifier.issn	Electronic: 1873-7978
dc.identifier.uri	http://hdl.handle.net/10201/148343
dc.language	eng	es
dc.publisher	Elsevier	es
dc.relation	Spanish Ministry of Science, Innovation and Universities Proyect ECO2017-84209-P; Fundación Cajamurcia	es
dc.relation.publisherversion	https://www.sciencedirect.com/science/article/pii/S0148296320306743?via%3Dihub
dc.rights.accessRights	info:eu-repo/semantics/restrictedAccess
dc.subject	Socioemotional wealth	es
dc.subject	Financial decisions	es
dc.subject	Debt	es
dc.subject	Private family SMEs	es
dc.subject	CEO gender	es
dc.subject.other	CDU::6 - Ciencias aplicadas::65 - Gestión y organización. Administración y dirección de empresas. Publicidad. Relaciones públicas. Medios de comunicación de masas	es
dc.title	Socioemotional wealth and financial decisions in private family SMEs	es
dc.type	info:eu-repo/semantics/article	es
dspace.entity.type	Publication	es